Ghana: Inflation accelerates in January
Inflation increased to 23.5% in January from December’s 23.2%. January’s reading was the highest inflation rate since November 2023. Looking at the details of the release, clothing and footwear prices rose at a quicker pace in January compared to the previous month, and price pressures for transport picked up pace.
Still, the trend pointed down, with annual average inflation coming in at 36.7% in January (December: 39.2%).
Lastly, consumer prices increased a seasonally adjusted 2.00% over the previous month in January, picking up from the 1.16% rise recorded in December. January’s result marked the highest reading since July 2023.